Question

By selling a chair for 30,a dealer makes a profit of 25%.Find what price did the dealer pay for it
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Answer 1

Answer:

The dealer paid Rs.24

Explanation:

CP = cost price = ?

SP = selling price = 30

P% = profit percentage = 25%

Then,

CP = SP / ( 1 + (P%/100))

CP = 30 / ( 1 + (25/100))

= 30/1.25

= 24